I talk about the various costs involved in buying a commercial building, highlighting the importance of considering VAT, land and buildings tax, lawyer fees, title searches, finance fees, and accountant projections.
I also look at the need for surveys, feasibility studies, and insurance, and tell you why you need to be aware of ongoing costs such as utilities, fibre installation, and business rates.
KEY TAKEAWAYS
BEST MOMENTS
"One of the key ones that a lot of people actually forget about, and if they're working with the same advisors they do with residential, their advisors may not necessarily bring this up until the last minute, when they remember, it's actually the big one: VAT."
"Land and buildings tax could be less than RESI, might be slightly more depending on what the size is, but VAT does need to be included in that."
JOIN THE NETWORK
If you want to learn more about investing in Commercial Property why not consider joining the CPI Network? A community of active investors who collaborate, share experiences and empower each other in their Commercial Property endeavours.
Useful Links:
CPI Website - https://commercialpropertyinvestor.co.uk/
Our Sponsors - https://commercialpropertyinvestor.co.uk/podcast-sponsors/